National News
CEPA boosts India, UAE trade: Trade between India and the UAE surged 14.76% to $83.64 billion in 2023-24
The trade relationship between India and the United Arab Emirates (UAE) has experienced significant growth in the financial year 2023-24. According to the annual report of the UAE India CEPA Council, bilateral trade increased by 14.76% year-on-year to reach $83.64 billion. This marks the first full financial year since the implementation of the Comprehensive Economic Partnership Agreement (CEPA), which has played a crucial role in reducing trade barriers and facilitating economic expansion.
India’s exports to the UAE saw a substantial surge of 27.03%, while the UAE’s exports to India also increased by 7.09% compared to the previous financial year (2022-23). The positive impact of CEPA, which came into force on May 1, 2022, has been evident in these figures, as the agreement has streamlined trade processes and encouraged investment flows between the two nations.
One of the most notable sectors benefiting from this trade growth is the gem and jewellery industry. Bilateral trade in this sector expanded from $20.88 billion in FY2022 to $28.15 billion in FY2024, marking an impressive 35% increase. India’s gem and jewellery exports to the UAE witnessed even greater growth, rising by over 60% from $4.95 billion in FY2022 to $8.04 billion in FY2024.
India’s non-oil trade with the UAE rose by 20.1% to $59.72 billion in 2023-24, compared to $49.73 billion in the previous year. The strong trade ties have also been complemented by a rise in bilateral investments. Indian investments in the UAE amounted to approximately $1.16 billion, covering a range of industries including technology and logistics. Meanwhile, the UAE emerged as India’s fourth-largest foreign investor, committing $3.35 billion to high-potential sectors within India.
The India-UAE trade relationship has strengthened significantly since the implementation of CEPA, fostering a robust and mutually beneficial economic partnership. The substantial growth in trade volumes, particularly in non-oil trade and the gem and jewellery sector, underscores the effectiveness of the agreement in enhancing economic cooperation. With continued policy support and investment facilitation, both nations are poised for sustained trade growth in the coming years.
National News
Senco Gold & Diamonds Partners With Olocker to Give Customers Free Jewellery Insurance, Letting Precious Memories Be Worn, Not Hidden Away
A Customer-First Initiative Designed to Help People Wear Their Precious Memories with Confidence.
Senco Gold & Diamonds, one of India’s most trusted jewellery houses, has partnered with Olocker, India’s first dedicated jewellery insurance platform, to offer free jewellery insurance to its customers, protecting purchases against risks such as snatching, robbery, and housebreaking.
On the surface, it’s a simple value-add: buy jewellery from Senco, get it insured, at no extra cost. But the thinking behind it is more personal — the freedom to actually live with the things you love.
There is a quiet ritual that plays out in homes across India every wedding season, every anniversary. A piece of jewellery is bought with love, worn once or twice with pride — and then, almost apologetically, tucked away in a bank locker for “safekeeping.” The very thing meant to be cherished ends up spending most of its life in the dark.
A Locker Is No Place for a Memory
Ask any family that owns fine jewellery, and you’ll hear the same quiet anxiety: the fear of stepping out wearing something precious, the fear of a break-in while the house is empty. For many, the solution has always been the same — lock it away, take it out only for weddings and festivals, and let it sit untouched the rest of the year.
It’s a practical response to a real risk, but it also means jewellery bought to mark a marriage or a milestone ends up being seen far less than it deserves.
This is the exact problem Senco Gold & Diamonds’ Managing Director, Suvankar Sen,

has spoken about wanting to solve. Known for a customer-first philosophy that goes beyond transactions, Sen has often said jewellery should be something people live with, not something they merely own. “Jewellery is never just metal and stone,” Sen said, explaining the thinking behind the Olocker partnership. “It’s a wedding day, a mother’s blessing, a promise kept. When customers can’t step out wearing it, or can’t leave home without worrying about a break-in, something is broken in that experience. We wanted to fix that.”
That sentiment is the quiet engine behind this initiative. Rather than simply selling jewellery and stepping back, Senco has chosen to walk the extra mile — ensuring that once a customer takes a piece home, they can wear it freely and pass it down through generations, without the constant undercurrent of worry.
What the Partnership Actually Offers
Through this collaboration, Senco customers receive free jewellery insurance via Olocker on qualifying purchases, protecting against snatching, robbery, and housebreaking.
Olocker, India’s first digital platform dedicated to jewellery insurance and asset tracking, brings the technical and insurance backbone — while Senco brings its decades of trust, built since 1938, to make sure customers actually use it.
For a family that has just bought a piece for a wedding, this means peace of mind — wearing that necklace to a dinner without the nagging thought of “what if someone snatches it,” or “what if someone breaks in while we’re away.”
A Partnership Built on Shared Intent
The excitement isn’t one-sided. At Olocker, the partnership is seen as validation of the idea the platform was built on — that jewellery insurance should be a natural, everyday companion to ownership, not a niche afterthought.
“This is genuinely one of the most exciting collaborations we’ve been part of,” said Milind Shethia, Founder & Chief Marketing Officer at Olocker. “Our mission has been to help people wear their jewellery instead of locking it away, and partnering with a name as trusted as Senco brings that mission to millions of customers at once.
What’s heartening is Mr. Sen’s own approach — he didn’t look at it as a marketing tie-up, but as giving something back to people who’ve trusted Senco for generations. That kind of intent is rare, and it’s exactly the spirit we built Olocker around.”
That mutual sense of purpose is what gives this partnership its quiet credibility. It isn’t a scheme or a promotional hook, but two organisations agreeing on a simple, shared belief: jewellery should be lived in, not locked up.
A Bigger Idea About Ownership
There is a broader philosophy at play, one Suvankar Sen has championed throughout his tenure at Senco — that jewellery is an emotional asset as much as a financial one, and customers shouldn’t have to choose between enjoying it and protecting it.
This partnership feels less like a marketing initiative and more like a promise kept, reflecting a leadership style that measures success in something harder to quantify — how cared for a customer feels long after leaving the showroom.
As jewellery increasingly doubles as adornment and investment, initiatives like this one may well set a new benchmark for customer care in the industry.
Senco, through its partnership with Olocker, isn’t just insuring jewellery against snatching or a break-in — it’s giving people back the freedom to wear their memories, out loud, without fear.
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